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ยป The Foreclosure Fraud Prevention Act would impose criminal penalties on mortgage lenders, servicers, and their agents if they intentionally practice fraudulent or deceptive conduct when preparing, executing, or filing foreclosure documents. Schneiderman proposed the bill, which is being sponsored by Sen. Jeff Klein (D-Bronx/Westchester). "On Long Island and all across New York state, wrongful foreclosure and the growing 'shadow docket' are preventing thousands of families from even getting a chance to keep their homes," Schneiderman said in prepared remarks. "Both the Certificate of Merit bill and the Foreclosure Fraud Prevention Act address these critical problems by proposing common-sense reforms to keep homeowners out of the legal limbo and ensure their rights are honored. The Assembly has already acted to empower hardworking New Yorkers fighting against foreclosure. It is now time for the Senate to do the same." DAL to Act as Consultant for Asset Management Specialists Distressed Asset Logistics (DAL), a firm that works with banks, credit unions, mortgage lenders, and asset management firms to streamline default services and REO activities, announced it will serve as a consultant to Asset Management Specialists (AMS). Derrick A. Logan, DAL's chief consultant and founder, assumes the role of SVP of strategic development and represents the company in its bid to build market share for its national default platform. "This is a great opportunity, and I'm very pleased to be working with Asset Management Specialists," Logan said. "AMS has what it takes to survive the shakeout that's coming to this part of the mortgage business. I've looked at their business and believe there are some opportunities that, if capitalized upon immediately, will allow AMS to grow, even in this environment." The company explained declines in default rates and foreclosures have prompted some property preservation and asset management firms to rethink the way they conduct business as they adapt to changing needs of servicer clients. "AMS has what it takes to be exactly what servicers need now," Logan added. "I'm looking forward to helping them make the connections that will allow them to do just that." Ernst Publishing Company Honored with Best of Albany Award Ernst Publishing Company, a provider of technology and closing cost data for the real estate and home finance industries, received the 2013 Best of Albany Award in the publishers category. The Albany Award Program provided the annual award in recognition of the local company's dedication and efforts to build a sustainable business in the area. The companies chosen exemplify the best of small business; often leading through customer service and community involvement. These exceptional companies help make the Albany area a great place to live, work, and play, the presenters explained in a statement" Winners were selected after various sources of information were gathered and analyzed. "We're proud to be called a local company in Albany, even though we serve a national client base, and we're very proud of this award," said Gregory E. Teal, president and CEO of Ernst Publishing. "We believe strongly in our responsibility to be a good neighbor in the communities in which we work and to contribute what we can to help strengthen the economy here in Albany." North Carolina rank: 30 90+ Day Delinquency Rate Foreclosure Rate April 2013 2.6% Unemployment Rate 2.0% 8.9% year ago 2.8% 3.2% 9.4% year-over-year change -6.0% -36.6% -5.3% Top County 90+ Day Delinquency Rate BerTie CouNTy 4.7% year ago 3.8% 6.7% year-over-year change 1.7% -30.0% Top Core-Based Statistical Area KiNSToN, NC 90+ Day Delinquency Rate Foreclosure Rate April 2013 3.6% 3.0% year ago 3.4% 2.9% year-over-year change 6.8% IN THE NEWS RoundPoint Adopts Fannie Mae's SMDU Platform RoundPoint Mortgage Servicing Corporation announced the adoption of a Fannie Mae tool designed to help servicers work faster when assisting borrowers with foreclosure prevent efforts. Fannie Mae's Servicing Management Default Underwriter (SMDU) is a technology platform that provides real-time decisions on mortgage loan modifications and other solutions for struggling homeowners. The tool also enables workout decisions based on Fannie Mae's guidelines and the Servicing Alignment Initiative by integrating with existing loss mitigation systems. The broad release of SMDU tool was first announced in early May and has been adopted by several other servicers. Through the tool, RoundPoint can offer customers a more comprehensive set of workout options while ensuring compliance to GSE guidelines, the Charlotte, North Carolina-based servicer said in a release. Additionally, SMDU can also shorten timeframes during the borrower evaluation process, which allows RoundPoint to communicate decisions to customers faster. "The RoundPoint customer experience has greatly improved since adopting this platform," said Dave Worrall, president of RoundPoint. "Our customers desire more options and expect immediate decisions, and the SMDU tool allows us to deliver both." STAT INSIGHT Foreclosure Rate April 2013 3.8% VISIT US ONLINE @ DSNEWS.COM 2.3% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the April 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary April 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. 6.1% Months' supply of distressed housing inventory in North Carolina as of April. Source: CoreLogic 85